It's also generally a problem especially of the entrepreneurial world. In the academic world, some of the most knowledgeable people get listened to, even if all they do is quietly churn out results and publish them. In the entrepreneurial world, it's often the people who speak loudly, confidently, and able to answer questions before you've even finished your question who get funded, even if they don't know what they're talking about.
Theranos and its ilk were all no surprise to me. The entire venture ecosystem is perfectly designed to catch charlatans, not experts.
Having marketed analytical products to VC audiences twice, I'm just not convinced that the VC ecosystem is even designed. They seem to prefer status quo (high risk) over data-informed decisions.
Theranos and its ilk were all no surprise to me. The entire venture ecosystem is perfectly designed to catch charlatans, not experts.